Invest in Lumiorav!


Lumiorav is a successful and growing brand. The aim of this campaign is to take the brand to the next phase of development and achieve overall recognition in the Estonian market.

Did you know that you are likely living in deficiency of the most essential mineral for your body, magnesium? According to various data, 75-90% of people worldwide suffer from chronic magnesium deficiency. This can lead to muscle cramps, insomnia, fatigue, headaches, and even depression, among other serious symptoms.

Lumiorav has launched a product that helps everyone easily supply their body with magnesium. In addition to being for the average adult, it is also for athletes, pregnant and breastfeeding mothers, as well as growing children. It is an easily consumable, relaxing, and delicious Estonia’s first pure magnesium water, clearly distinct and different from other mineral waters currently available.

The sales of bottled drinks has been consistently growing, having more than doubled in Estonia alone in the last 10 years. The overall demand for healthy beverages is following a similar trend, with water leading the way. Studies show that health has become the most important factor for buyers, leading to increased purchases of vitamin- and mineral-enriched beverages.

Lumiorav’s magnesium water is composed of pure Estonian groundwater and magnesium citrate. One pint bottle (0.568L) covers 90% of average daily magnesium need. Lumiorav’s magnesium water, with its clean and light lemony taste, is suitable for everyday consumption, sports activities, and even appeals to those who do not enjoy typical salty mineral water.


1. A large portion of the population, estimated at 75-90%, does not get enough magnesium from their diet (see ncbi; WHO; a-m). However, due to our fast-paced lifestyles and stress, we require increasing amounts of magnesium. Magnesium affects all the metabolic reactions in our bodies. Without magnesium, our bodies would struggle to produce energy, we would suffer from muscle cramps, and our cholesterol levels would constantly cause problems. Additionally, magnesium helps the body combat stress and, together with calcium, ensures healthy bones and teeth.

2. So far, there has been a lack of domestically produced magnesium water with a good taste and a significant magnesium content that is enjoyable to consume for thirst quenching, as plain table water, or for post-workout recovery, while also meeting daily magnesium needs.

3. There is a need for a healthy alternative to energy drinks and coffee. Magnesium helps produce energy at the cellular level. Lumiorav’s magnesium water, therefore, takes two steps beyond energy drinks, which only temporarily reduce fatigue through caffeine and sugar, often at the expense of the body’s energy reserves. Temporary well-being is quickly replaced by restlessness and anxiety, and the number of depressive symptoms may even increase. Continuous consumption of energy drinks can lead to burnout and health problems. In contrast, magnesium water supports the body’s natural energy restoration process.


Lumiorav’s magnesium water addresses a significant problem and aligns with current trends by introducing magnesium as one of the important minerals for health in the bottled water market. Restoring, maintaining, and enhancing the body’s natural and sustainable physical and mental capabilities is Lumiorav’s main focus. As magnesium is the most crucial mineral in your body, Lumiorav’s magnesium water should be the most important beverage in your drink selection.


Lumiorav operates as a brand company in the health products sector. This means that all aspects of production are entrusted to partner companies, and Our focus is sharply directed towards sales, marketing, and brand growth. Lumiorav’s products are primarily targeted towards health-conscious individuals, sports and exercise enthusiasts, both young and old, and forward-thinking individuals. But our target groups also include families and customers who are attracted to the fun and knowledge-driven Lumiorav brand.

Our key resources as a brand company include:

  • Existing products, functioning sales, and a working business model
  • A motivated and experienced marketing team and partners
  • Agreements with distribution network sales and marketing partners
  • Agreements with manufacturing partners
  • Existing customer base, social network fans, and followers
  • Registered Lumiorav trademark and important domain names (.ee, .com, .eu, .fi)

The company’s value proposition: supporting people’s health through meeting their magnesium needs, resulting in an improved quality of life. Magnesium products and magnesium-infused water.

Product sales are carried out through distribution channels (distributors, wholesalers) and direct sales to customers (B2B, e-commerce).

The product’s high quality and reliable supply are ensured through an experienced manufacturing partner (Värska Originaal AS), as well as the simplicity of the production process, which allows for local production as subcontracting in any target market country (Finland, Sweden, Latvia, etc.).


The bottled water market is highly competitive but still offers opportunities, especially considering market size and growth potential. Finland and Latvia have been selected as the initial export markets due to their similar business culture, contacts, and proximity. The first quantities of Lumiorav’s magnesium water have already been sent to Finland and Latvia.

  • The total volume of the Estonian bottled water market was approximately 59 million euros in 2022 (
  • According to a nationwide population survey, 72% or over 750,000 Estonian residents aged 15-74 consume bottled water (Turu-Uuringute AS)
  • The total volume of the Finnish bottled water market is around 163 million euros annually (
  • The projected growth rate for the bottled water market is approximately 6.1% in Estonia and 4.7% in Finland (
  • Healthy-related products are clearly and consistently growing in demand, and the consumption of healthy products is a growing reality today (Eating in 2030: trends and perspectives)

With well-planned marketing activities, our goal is to achieve a market share of at least 5% for Lumiorav water products in the bottled water category in Estonia and 1% in Finland by 2027.

Indirect competitors for Lumiorav magnesium water include larger brands selling bottled water (Aura, BonAqua, Värska, Borjomi, Essentuky). The direct competitor is mineral water DonatMG, which is focused on magnesium, and some vitamin drinks containing magnesium. In terms of taste there are no direct competitors.


In the sales of magnesium water, we focus on three main channels:

  • Resellers (retail chains, gas stations, sports clubs, pharmacies, kiosks, etc.)
  • Export (Finland, Latvia, Lithuania, Sweden, etc.)
  • Direct sales (company offices, sports clubs, etc.)

Introducing and marketing Lumiorav magnesium water will also significantly increase the sales of Lumiorav’s other products through brand awareness. Furthermore, with the success of magnesium water, we can more easily place current and future products in retail chains. The plan, alongside marketing magnesium water, is to achieve overall brand recognition for Lumiorava in the Estonian market by the end of the current year.

We forecast a minimum 10-fold growth in the company’s (brand’s) value, meaning that within 5-7 years, the value of the Lumiorav brand company in terms of sales price will be at least 10 million EUR.

In the long term, we aim to create new health- and magnesium products and product categories ranging from food sector to sports and entertainment. We have various new ideas and prototypes on the table, such as protein bars, juice boxes, ice cream, and more.


  • Lumiorava magnesium water has reached major retail chains in Estonia
  • Sales turnover has increased by 3.7 times in one year
  • Lumiorav magnesium water has received multiple awards, including:
    • Best Estonian Beverage 2021 – WINNER
    • Best Estonian Beverage 2022 – SILVER MEDAL
    • Beverage of Estonian Sauna Year 2023
  • Several well-known individuals are fans of our product, and we have collaborations underway with them
  • Lumiorav water has been well received in sports clubs (Sparta, Golden)
  • The company is profitable, and there is demand for our products in the market
  • We have started exporting to Finland and Latvia
  • We have a customer base of approximately 5000 members to whom we send newsletters
  • We have established long-term and stable partnerships with production partners (including Värska Originaal AS)


The investments raised through this campaign are planned to be primarily used for marketing activities and investment in inventory. In the current and the following year (2024), we plan to expand more aggressively into the Finnish and Latvian markets. To accelerate growth, we plan to raise additional investments in 2024 to support marketing activities. From next year, we plan to cover the marketing activities also partaly from working capital.

2023 Fundraising ca €140,000

  • Increase sales and achieve general recognition in the Estonian market
  • Execution of sales and marketing campaigns
  • Increase inventory levels

2024-2025 Fundraising ca €300,000

  • Increase the share of exports
  • Increase sales turnover to at least €600,000 – €1,200,000
  • Execution of sales and marketing campaigns
  • Introduce other products in the portfolio to retail chains
  • Increase sales through the e-commerce platform
  • Product development activities
  • Enter new export markets


Starting from 2027, we expect to distribute at least 30% of net profit as dividends.

With good timing and an attractive offer, we are open to considering an exit and selling the brand company in the future


  • Shift in sales growth and financial projections timeline

The probability of risk realization is moderate, but the long-term impact is small since the company’s operating costs are linked to the growth in sales turnover. To reduce the risk, we utilize marketing collaboration with partners who have an established network. Marketing activities can be optimized based on the growth in sales turnover and investment volume.

  • Low consumer acceptance due to high competition and a wide selection of beverages

The probability of risk realization is low. It is evident that Lumiorav’s magnesium water has been positively received by a wide target audience. The sales turnover has mostly organically increased by 3.7 times in just one year. The product has already established itself in the market and received several awards. To ensure the product quality, we collaborate with professional and experienced manufacturing partners (Värska Originaal OÜ). We have marketing and sales partners with extensive experience and valuable contacts. Our brand is of high quality, offers good value for the price, is secure, and domestically produced.

  • Production obstacles or scarcity of raw materials

The probability of risk realization is low. It is evident that Lumiorav’s magnesium water has been positively received The probability of risk realization is low. The availability of high-quality water is excellent, and finding interested manufacturers is not an issue. The process of adding minerals and/or vitamins to the water is relatively simple in the production process. The availability and reliability of the additives are always ensured.

  • Competition and increased supply of similar products in the market

Competing with major manufacturers and the intense competitive market situation is indeed a considerable risk. To reduce the risks, Lumiorav focuses on different product categories and emphasizes marketing rather than production. Additionally, Lumiorav has other health products in its portfolio, which allows for increased sales turnover through the same distribution network. Our marketing communication is precisely targeted within its product segment. The marketing efforts are more effective compared to competitors because Lumiorav focuses on one product, whereas larger competitors divide their marketing activities among numerous different products in the segment.

  • Bankruptcy

Competing with major manufacturers and the intense competitive market situation is indeed a considerable risk. To reduce the risks, Lumiorav focuses on different product categories and emphasizes marketing rather than production. Additionally, Lumiorav has other health products in its portfolio, which allows for increased sales tThe probability of risk realization is low. We have over 7 years of experience in selling magnesium and health products and have built a motivated and experienced team during that time. Magnesium products have also proven their relevance in the market. The company operates in the field of health and wellness, which is a growing trend. We do not engage in production ourselves, eliminating investments in non-liquid assets related to production equipment, as well as the risks associated with various technical and administrative aspects of production ownership. By operating in this manner, we can focus entirely on marketing, sales, and branding. Our team consists of passionate enthusiasts in health products, branding, and marketing. To reduce the risks, we have entrusted production to those who are the best in their field. We believe in collaboration and a strong team.

  • Pandemic or similar events

Competing with major manufacturers and the intense competitive market situation is indeed a considerable risk. To The probability of risk realization is low to moderate. The company’s operations are related to supporting health and promoting a healthy lifestyle, which visibly benefits the business in such circumstances. Health is a popular field at all times, regardless of changes in the economic environment. Our business is also positively influenced by the growing trend of e-commerce and the product belonging to the essential food sector.


What exit conditions do you offer for investments?

In the future, we are interested in a partial buyback of shares on agreed terms. In the case of an exit, where the main shareholders decide to sell their stake in the future, all shareholders will receive proceeds proportionally to the number of shares they hold. All shareholders also have the option to sell their shares on the secondary market at any time.

How have you considered the potential impact of an economic downturn on expansion?

The exact effects of an economic downturn are difficult to predict. However, it can be assumed that most products related to health and food are among the safer investment segments.

What logic was used to determine the company’s value?

In determining the company’s value, we have relied on the evaluation of company resources, financial forecasts, and comparison data from successful campaigns of other similar companies. We have analyzed recent successful campaigns in the food and beverage industry, comparing the assigned values of those companies based on past revenue, forecasts, and profit/loss from previous years.

The company’s value reflects the potential for generating future income, and therefore, relying solely on the past is not methodologically correct. It is essential to critically assess the results that can be achieved in the future. For determining the value of a growing company, the methodology often involves using a multiple of the previous year’s revenue or the projected revenue for the upcoming year(s).

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